"Moving toward the future together" 'True Corporation' is preparing to issue new debentures: Interest Rates of [2.95%-4.10%] per annum, "A+" Credit Rating Year-End Investment Opportunity. Expected Subscription periods:

True Corporation Plc, Thailand's leading telecom-tech company and ranked first in the world for DJSI Sustainability Index 2023 in telecommunication industry for the sixth consecutive year, is preparing to offer new five tranches of debentures with maturities ranging from 2 to 10 years and with fixed interest rates between [2.95% - 4.10%] per annum. The company and its debentures have maintained an "A+" credit rating with a "Stable" outlook from TRIS Rating, reflecting True Corporation's strengths in both the telecommunications and digital technology sectors. Subscriptions periods are expected to be during November 21-22 and November 25, 2024, through seven leading financial institutions: Bangkok Bank, KASIKORNBANK, Siam Commercial Bank, CIMB Thai Bank, United Overseas Bank (Thai) , Kiatnakin Phatra Securities, and Asia Plus Securities, as well as through the TrueMoney Wallet app, with Krungsri Bank serving as the registrar and representative for debenture holders.

Ms. Yupa Leewongcharoen, Chief Financial Officer (Co) of True Corporation Plc. stated that "We are committed to continuous and sustainable growth. Our Q2 2024 results reflect ongoing success from the amalgamation of True and dtac, upon a normalized net profit of 2.4 billion baht and EBITDA growing for six consecutive quarters. This performance highlights the growth of our core service revenues and effective cost management. We aim to become a leader in sustainable telecommunications and technology, adopting AI and automation to enhance customer experience and increase operational efficiency. Our investment in 5G networks, currently covering 92% of the population, will drive profitable and sustainable growth as well as create value to all stakeholders."

Both the company and the debentures have been assigned a credit rating of "A+" with a "Stable" outlook by TRIS Rating as of October 4, 2024. This reflects our market leadership in the mobile and broadband internet sectors, bolstered by a nationwide network, comprehensive frequency bands, and a well-established brand name. Additional benefits are anticipated from post-amalgamation synergies and enhancing operational efficiency.

The Joint Lead Arrangers added, "This is a good opportunity for investors looking to subscribe high-rated debentures before policy interest rates begin to decline. On September 18, 2024, the U.S. Federal Reserve reduced the policy interest rate for the first time in four years by 0.50% and signaled more potential cuts in 2024. In Thailand, although the Monetary Policy Committee (MPC) maintained the policy rate at 2.50% in the recent meeting on August 21, 2024, there is a chance of a reduction following U.S. rate cuts, with the next MPC meeting on October 16th, 2024. This period presents an opportune moment for investors to subscribe debentures and secure returns, particularly those who prefer investing in high-quality debentures. With a credit rating of A+ and a stable outlook, True is likely to be an attractive option for investors."

This debenture is a public offering, with maturities ranging from 2 to 10 years, catering to investors across all groups, whether they are seeking short-term, medium-term, or long-term investments. The objectives of this issuance include using the funds raised to repay matured debentures. The debentures are unsubordinated and unsecured with a debentureholders' representative, and coupons are payable every 3 months. Subscriptions periods are expected to be from November 21-22 and November 25, 2024, with a minimum subscription amount of 100,000 baht and increments of 100,000 baht. The company anticipates that this debentures issuance will receive favorable feedback from investors, just as all previous ones have been. The issuance consists of five tranches as follows:

• 1st Tranche: 2-year tenor with a fixed coupon rate of [2.95 - 3.10]% per annum.
• 2nd Tranche: 3-year tenor with a fixed coupon rate of [3.25 - 3.40]% per annum.
• 3rd Tranche: 5-year tenor with a fixed coupon rate of [3.65 - 3.80]% per annum.
• 4th Tranche: 7-year tenor with a fixed coupon rate of [3.80 - 3.95]% per annum.
• 5th Tranche: 10-year tenor with a fixed coupon rate of [3.95 - 4.10]% per annum, with a call option since the 5th year.

The company is currently in the process of filing a registration statement and draft prospectus, which are not yet effective and are pending approval by the Securities and Exchange Commission (SEC). Investors can find more details about the debenture offering and draft prospectus at www.sec.or.th For additional information, please contact the seven joint lead arrangers listed below:

• Bangkok Bank Plc, all branches (excluding Micro Branch), or call 1333, or book online via Bangkok Bank Mobile Banking.
• KASIKORNBANK Plc, all branches, call 02 888 8888 ext. 869, or book online via KASIKORNBANK (excluding foreign nationals and legal entities; available through main and branch offices of KASIKORN Securities Plc.
• Siam Commercial Bank PCL., all branches, call 02 777 6784, or book online via SCB EASY app, including InnovestX Securities Co.,Ltd as an agent of Siam Commercial Bank PCL.
• CIMB Thai Bank Plc, all branches, call 02 626 7777, or book online via CIMB Thai app.
• United Overseas Bank (Thai) Plc, all branches, call 02 285 1555.
• Asia Plus Securities Co.,Ltd., call 02 680 4004.
• Kiatnakin Phatra Securities Plc, call 02 165 5555, or book online via Dime! app, including Kiatnakin Phatra Bank Plc as an agent of Kiatnakin Phatra Securities Plc.

For those interested in subscribing via the TrueMoney Wallet, more information and instructions on how to apply for the TrueMoney Wallet Application and how to subscribe debentures can be found at www.truemoney.com. For assistance with the application process, contact the staff of True Money Co., Ltd. at Tel. 1240, press 6.

Source: True Corporation